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At first you may only be making a tiny amount of money passively, and you may even want to re-invest that money so that it compounds and grows quicker. But with a few time, its potential to create enough passive income that you could quit your job or retire early.

Passive income can be a bit of a divisive topic. In general, passive income is any money that you make without putting in much effort. The money will flow in without too much being demanded of you. In some cases it could be long-term recurring income, and in some other instances it could be short lived or inconsistent.

In some cases youll need to put in some effort up front, but then it wont need just as much effort in the long run when youre making the money.

Exactly what qualifies as passive income is up for debate. Most lists that youll find online will include things such as blogging, writing e-books, or creating your own course. Im not including those thoughts in this informative article because, in my own opinion, they all require an excessive amount of effort to be considered as passive.

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Blogging will always need on-going work, either by yourself or by other people that youre paying.  Selling ebooks or classes will require on-going customer support, plus youll need a consistent traffic supply in order to continue to make sales. It's possible and there are individuals who have been able to do it , but they make up a small percentage of individuals who really set out to get it done.

Ive been blogging full-time for ten decades and Ive sold ebooks and classes in the past. Theyre great ways to earn money, I just dont consider these to be passive, in the majority of cases. .

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Just about any business can be a source of passive income if youre paying others to run the business. This is true with both online and traditional businesses. That opens up even more possibilities than what will be listed here.

Now lets have a look at a few of the best ways to produce passive income. Some of these are investments which will require some money to start with. Others wont need any money to begin. In case you dont have the money to invest now, consider starting with the methods that dont require any money, and then use that money you earn to invest. .

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Your very first financial priority must be to read what he said develop an emergency fund that will cover all of your living expenses for a couple months. But dont put this money is a checking or savings account at a local bank which pays you a terrible interest rate. You can open a high yield savings account or money market account with an online bank that will earn a much better return for you.

My wife and I keep our emergency fund in a money market account with CIT Bank. At the moment (October 2018) CIT money market accounts are earning 1.85% APY and CIT savings accounts are earning 1.55% APY. Thats 22x the national average! Opening an account with CIT is quick and simple, and can be done online. .

Some companies consistently pay dividends for their shareholders. As a trader, you can re-invest the dividends to buy more shares of this inventory, or take the dividends in cash. Reinvesting will let you own look these up more shares, which leads to more dividends in the future (ideally).

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The companies that consistently pay dividends tend to be large companies with a long track record of success. As a result of this, these investments tend to be considered less risky than the stock exchange in general.

Dividend stocks can be a great investment whether or not you want to reinvest each the dividends on hold on to the stock for quite a long time, or make use of the income produced throughout the dividends.

For far more detail on the topic read Investing in Dividend Stocks in Investopedia. To get a list of those stocks, see this collection from Dividend.com and this collection from DividendValueBuilder.com.

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Peer-to-peer lending (or P2P) is becoming extremely popular in recent decades. Borrowers and lenders can be matched up via a website or marketplace. Instead of going to a bank, the borrower receives a loan by an investor.

In some situations the borrower might not be able to be eligible for a loan via a traditional bank. And in many circumstances the debtor gets you could check here a better interest rate than they could get from a bank. As an investor, you can earn a good return too.